Your Views

Atom launch means a big step forward in mortgage innovation

The industry reacted to the much hyped launch of mobile bank Atom, which officially entered the market with its intermediary-only residential mortgage range last week…

Atom’s Digital Mortgages proposition is the latest step forward in mortgage innovation across the UK. Customers will be expecting to benefit from an enhanced level of service driven by technology, as well as competitively priced products. After all, as an app-based bank, Atom will have extremely low overheads.

As a member of the First Complete and Pink panels, Atom gives our advisers an exciting opportunity to offer customers a unique experience and greater choice while providing access to a frictionless, technology-driven process.

It is really positive to see such significant innovation within the residential mortgage market, in particular for Northern Ireland. Atom’s venture will improve access to funding in a region which has been searching for more lenders to match demand in what is now an increasingly positive market.

Karen Hedges, First Complete and Pink

Revolutionary move, even if the market did come late to the party

We’re in the midst of a technological revolution across the entire financial services industry; application processes that used to take weeks are now taking minutes, and products that used to be opaque are becoming transparent and comprehensible to the consumer.

It’s taken the mortgage industry longer than most to come to the party, but it’s very exciting to see a new lender coming to market with a digital offering, and seeking to partner with intermediaries who can ensure that customers receive the best advice possible.

We look forward to working with Atom Bank in the near future and continuing the broader mortgage revolution.

Daniel Hegarty, Habito

Robo advice cannot replace that great human interaction

Robo advice can be a contentious topic in the industry and readers reacted to a Mortgage Strategy opinion piece on its place in the market

Robo advice has a long long way to go. When this industry gets its head around the fact that advice doesn’t just stop at choosing a product it will truly understand just how far off robo advice really is.

Advice starts with gaining the relationship, understanding the client and choosing the product. The structure of that product, the application, chasing lenders, valuers, estate agents and solicitors won’t be done by robo solutions in any effective manner at all.

Even less so when it comes to sorting out problems of renegotiations, down valuations, getting reports to lenders – the human list is endless.

Mortgage sourcing systems remain woeful at best. They’ve been trying to get this basic element right for the last 20 years and are no nearer now than when I started in the industry in the mid to late 90s.

Advisers will still be advisers in the future – and we’ll have that great human interaction that is so rare in most things we do now. The best bit is that I hope technology is there to support the human adviser going forward rather than trying to hopelessly replace them.

Chris Hulme, Clayton Hulme